January 19, 2007

Cargill reports record profits

US-based Cargill announced its profits reached record levels in the Q2 ending Nov 30, 2006.

The company's reported net earnings of US$662 million in the 2007 Q2 that ended Nov 30, up 34 percent from the same period a year ago, said a company release.

The company termed this the strongest operating performance in its history.

Similar to the Q1, the company experienced fast-changing markets in the second period, brought about by the interest in biofuels, investor flows into commodity futures and other markets offering diversification, and expansionary economies in many parts of the world, said Warren Staley, Cargill chairman and chief executive officer.